Wall Street Soars on Asian Progress

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Wall Street Soars on Asian Progress
Wall Street Soars on Asian Progress

Wall Street Soars on Asian Progress

Wall Street experienced a fresh bullish start on Monday where the S&P 500 index gained nearly 0.8% after which the index rose back up to 1670 level after breaching its resistance area of 1667; whereas the Dow Jones index managed to gain around 140 points as the technology and industrial shares gained significantly.

The bullish biasness came due to the good fundamentals coming from the Asian market, where the exports of China increased significantly after beating the forecasts, hence giving investors hope to stay in the market as the trades would get even better among the west and other markets from Asia.

Moreover, the Japanese stocks rose as the 2020 Olympics would be held in Japan, as Tokyo has won the bid for this mega event, which would stimulate the construction and developmental progress across the country and increase employment opportunities.

Apple Releasing iPhone

The share price of Apple gained around 1.8% on Monday where the investors are hopeful and are looking forward to a further price hikes in the coming days, as the smart-phone maker would be releasing a new iPhone today on Tuesday.

However, it does not necessarily mean that stocks would rise on a new product release but it may fall if no such ‘creative or innovative’ element is seen by the investors or the consumers.

A good trend may be coming for the Apple stocks in the upcoming days where it may adopt to get bullish or may fall and stay below the $500 a share level.

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Delta Goes Up in the Air

Delta Airlines Inc. jumped by 7.5% with an incredible bullish move just after the S&P 500 declared that the airlines would be replacing BMC Software Inc. in the S&P 500 index.

The process of diversification and expansion for the second largest carrier is still intact, where building customer experience and convenience is always considered by the firm.

In short, the U.S. stock market performed well as the concerns regarding the U.S. military attack on Syria relieved to a certain extent, and good economic indicators came from Asia that eventually would help the western market as well.

However, eyes are centered on the FED meeting that would take place next week where members may vote for or against the tapering of the stimulus plan. A big event it would be that could shape the trend of the market for a month or so.

To contact the reporter of this story: Jonathan Millet at john@forexminute.com